Maybe this will help you to ACCEPT...
To help us all accept our own responsibility in all of this, I'm posting what many seem to have forgotten... Below is the PIPS Loan Agreement which we all had to "Electronically Accept/Sign".
Rereading this might clarify our "Rights and Responsibilities"... Or NOT!!! :rolleyes:
Peace all,
Larry
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PRIVATE LOAN AGREEMENT BETWEEN PIPS INCORPORATED AND SECOND PARTY
BETWEEN
Company Name : PIPS INCORPORATED
Company No : (455064)
Registered Address : Ricardo J. Alfaro Avenue, Tower Building, Floor 20,
Office 207, Bethania Panama, Republic Of Panama.
Correspondence : P.T. 7323, 2nd Floor, Jalan BBN ½ E, Bandar Baru Nilai,
Address : Nilai, Negeri Sembilan Darul Khusus, Malaysia.
AND
Name entered above.
WITNESSETH THAT :
A. WHEREAS the parties hereto agrees and desirous of entering into this Agreement for the purpose of conducting a business with each other for mutual benefit only and not for other purpose whatsoever.
B. WHEREAS the First Party is a Private Loan fund that provides financial services for individual and corporate members .The First Party is conducting a short term financial relationship program between Second Party, the program known as People In Profit System (PIPS). (Hereinafter is referred to as PIPS Program).
C. WHEREAS the Participant is voluntarily, desirous and agrees to participate into PIPS program of First Party by placing loan funds, subject to the terms and conditions, stipulated herein.
D. The Participant hereby voluntarily agrees to loan funds to the First Party for a fixed period of 180 calendar days and the First Party agrees to repay the loan plus interests may be determined from time to time on a trading day basis under PIPS program to repay the capital of USD 450.00 or equivalent 17 units or any other amount from time to time to be fully self funded in consideration of 2% profit per day per unit for the period of 180 calendar days.
E. WHEREAS the Participant is hereby warrants and declares that this agreement is entered into the Participant, voluntarily with absolutely no enticements, inducements, or solicitation from First Party or by related parties to participate in the program.
F. WHEREAS the Participant hereto warrant that the funds to be utilize are good, clean and free from any encumbrances, cleared funds of non-criminal origin without any traces of illegality or unlawfulness whatsoever.
G. WHEREAS each party hereto declares that it is legally empowered and fully authorized to execute and accept the Agreement and agrees to be bound by the terms and conditions contained herein and in our website known as http://pips.pipsinc.com.
H. WHEREAS the First Party confirms and warrants that it has the expertise and is capable of arranging the Second Party funds for placement into various Trust Account.
I. WHEREAS the Participant confirms and warrants that it is in control, capable of providing to the First Party the funds required for placement into the Trust Account.
J. WHEREAS the Participant hereto with full corporate responsibility and the penalty of perjury declare upon the execution of this agreement, complete the transaction contemplated herein except for circumstance of force majeure.
1.0 THE FIRST PARTY OBLIGATIONS
1.1 The First Party accepts and agrees to undertake and act as the exclusive and authorized mandate to the Second Party and undertake to perform all and any transactions and obligations as specified and stated in the above mentioned clause and subsequent articles .
1.2 The First Party hereby agreed that the transaction shall proceed accordingly until completion of the full period of 180 clear days and shall not terminate this Agreement without any reason.
1.3 The First Party hereby confirms and warrants that the transaction shall be conducted strictly in accordance to the rules and regulations of International Chamber Of Commence.
1.4 The First Party shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters when managing funds.
2.0 THE PARTICIPANT OBLIGATIONS
2.1 The Participant hereby agrees and undertakes not to remove, revoke, terminate and transfer the loan funds placed in PIPS program.
2.2 The Participant undertakes and agrees that any transfer fees for the loan transaction shall be solely be borne by the Participant.
3.0 GENERAL CONDITIONS : THE PARTIES HERETO AGREE THAT:-
3.1 Each Party hereto is solely responsible for payment of taxation levies imposed transfer fees, withholding etc, that are applicable to its execution and performance of this Agreement.
3.2 This Agreement shall be for 180 calendar days period .The parties herein agree that this Agreement shall be effective commencing upon execution of same herein and shall be enforce immediately with effect from the date of the transaction.
3.3 The provision of this Agreement are fully understood by Participant and in certain Countries or Territories may be subjected to special supplementary terms. Where applicable Participant confirm that have received and read these terms and agree to be bound by them with full understanding.
4.0 APPLICABLE LAW
4.1 This Agreement is a full recourse commercial contract concluded between both parties and subjected to interpretation under the Laws of Republic of Panama. Both Parties irrevocably submit to the non exclusive jurisdiction of Republic of Panama laws.
4.2 The Parties shall use their best efforts to promptly and adequately resolved any dispute or controversy or difference which arises between the Parties touching the rights, interest, obligations and duties or matter related with this Agreement through amicable settlement, mediation AND
4.3 Any dispute or controversy or difference referred to Clause 3.2 which may arise between (2) parties and remains unresolved may be referred to the arbitration of a single arbitrator appointed by Agreement between both parties, or in default of agreement, nominated by International Chamber Of Commerce (ICC), Paris, France under the ICC Rules of Arbitration and Conciliation. The place of arbitration shall be in Regional centre of arbitration in Kuala Lumpur and the arbitration shall be conducted in English language.
4.4 The Arbitration shall be binding upon both Parties and any decision or award shall be binding upon both Parties.
5.0 ENTIRE UNDERSTANDING
5.1 This agreement contains the entire understanding between the First Party and Second Party and supersedes any prior understanding or written or oral Agreement between both parties respecting the subject matter hereof.
6.0 AUTHORITY TO EXECUTE
6.1 The signatories of this Agreement who are acting for their corporations/or organization, certify by their signatures below that they are duly authorized by their corporations / organizations to execute and deliver this Agreement and to be bound by the terms and conditions.
7.0 TIME
7.1 Time whatever mentioned in this Agreement shall be of essence and precise importance. Both parties agrees that due to the complexity of this arrangement involving local and international authorities a reasonable time is required to complete the loan transaction.
8.0 FORCE MAJEURE
8.1 Notwithstanding any other provision of this Agreement, neither Party will be liable for any failure to fulfill any terms of this Agreement where that fulfillment is delayed, prevented, restricted or interfered with any reason outside the party's control where such breach or failure is caused directly or indirectly by war, civil commotion, hostilities, strikes, lockouts, Acts of God, governmental regulations or directions or the action or omission or purported action or omission of any governmental authority, or any other cause or causes beyond that Party's reasonable control. The Party that is unable to perform it's obligation must notify the other party promptly of any such delay and use it's best efforts to resume performance in accordance with this Agreement as soon as possible. Upon receipt of the notification ,the parties must discuss in good faith and will use all reasonable endeavors how to take account or overcome of any Force Majeure event to resume performance in accordance with this Agreement.
9.0 EXCLUSIONS AND LIMITATIONS OF LIABILITY
9.1 To full extent permitted by law, the First Party expressly disclaims and excludes any representation or warranty implied in relation to this Agreement, the performance of this Agreement or any activity contemplated by this Agreement.
9.2 In respect of liability under or in relation to any undertaking or under this Agreement the performance of this Agreement or any activity contemplated by this Agreement or any activity contemplated by this Agreement whether for breach of tort or under any statute or otherwise, First Party :-
(a) Exclude its own and First liability for any indirect, special economic or damages or loss of revenue, profits, goodwill, bargain or opportunities or loss of anticipated savings incurred or suffered by Participant;
(b) Expressly limits its liability for breach of condition or warranty implied by virtue of any legislation.
10.0 NOTICE
10.1 Any notice or other communication under or in respect of this Agreement, including , but not limited to, any request, demand, consent, to or by a party to this agreement (each a notice)-
(a) must be in writing;
(b) any notice must be posted in the First Party website http://pips.pipsinc.com
(c) any notices and communications to be given under or in respect of this agreement must be in the English language.
11.0 MISCELLANEOUS CONDITIONS
11.1 All provisions of this Agreement shall so far as they capable of being performed or observed continue in full force and effect not withstanding completion of this Agreement except in those matter executed and performed.
11.2 Any liability of any party hereunder to any other party may in whole or in part be released, compounded or comprised and time or indulgence may be given by any party hereunder as regards any other party under such liability without prejudicing that the party's right against any other person under the same or similar liability.
11.3 No failure to exercise or any delay in exercising any rights or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or remedy prevent any further or other exercise thereof or the exercise of any other rights or remedy.
12.0 AMENDMENTS & ADDITIONS
12.1 This Private Loan Agreement may be amended upon notify and posted a (30) thirty days notice by the First Party in the website www.pips.pipsinc.com and the notice shall be effective after (30) thirty days notice has expired.
13.0 VALIDITY AND SEVERABILITY
13.1 If any provision of this Agreement is or may become under any written law, or is found by any Court or administrative body or competent jurisdiction to be illegal, void, invalid, prohibited or unenforceable:-
(a) such provision must be ineffective to the extent of such illegality void , invalidity, prohibition or unenforceability;
(b) the remaining provisions of this Agreement must remain in full force
(c) the Parties must use their respective best endeavors to negotiate and agree a substitute provision which is valid and enforceable and achieves to the greatest extent possible the economic, legal and commercial objectives, of such illegal, void, invalid, prohibited or unenforceable term, condition, stipulation, provision, covenant or undertaking.
14.0 TERMINATION
14.1 Upon termination of this Agreement, all provisions of this Agreement which in order to give effect to their meaning need to survive termination of this Agreement, shall remain in full force and effect. Notwithstanding termination, each party shall continue to be bound by this Agreement to the extent that they relate to the any obligations or liabilities which remain to be performed or discharged.
15.0 SUCCESSORS AND ASSIGNS
15.1 This Agreement shall remain in full force and effect until the completion of the transaction thereof and shall be binding upon the parties hereto their successors-in-title, lawful agents, representatives, nominees and assigns.
16.0 DEFINITIONS
"Assets trust" any and all assets, funds and properties, whether real personal or mixed, tangible, whether located or not recorded or reflected or required to be recorded on the books or financial statements of the Corporation.
"Business" means the Company's business carried by the Corporation.
"Loan" means financial assistance in form of monetary or cash in USD currency.
"PIPS Program" means People In Profit System program
"Parties" means First Party and Participant
"Participant" means Individual, Corporate or other type of legal entities which capable legally to enter in to binding contract.
"Profit" additional income derived from the capital loan of PIPS Program.
:bow:
